An Analysis of Forecasting Model of Crude Oil Demand Based on Cointegration and Vector Error Correction Model (VEC)

Abstract

This paper establishes a cointegration and vector error correction model to forecast the crude oil demand in China after analyzing main factors affecting crude oil demand. The model proves that GDP, population, the share of industrial sector in GDP and the oil price are the main factors influencing crude oil demand. Especially population and the share of… (More)

Topics

4 Figures and Tables

Cite this paper

@article{Jiping2008AnAO, title={An Analysis of Forecasting Model of Crude Oil Demand Based on Cointegration and Vector Error Correction Model (VEC)}, author={Xiong Jiping and Wu Ping}, journal={2008 International Seminar on Business and Information Management}, year={2008}, volume={1}, pages={485-488} }